OFFICE EQUIPMENT PLC OFFICE EQUIPMENT PLC
Statement of Profit or Loss and Other Comprehensive Income
Group | Three | Three | |||
Months Ended | Months Ended | Variance | |||
30th June 2022 | 30th June 2021 | ||||
Rs. | Rs. | % | |||
Revenue | 13,298,908 | 17,443,051 | (23.76) | ||
Cost of Sales | (1,749,867) | (6,096,165) | (71.30) | ||
Gross Profit | 11,549,041 | 11,346,886 | 1.78 | ||
Other Income | 129,053 | 101,746 | 26.84 | ||
Distribution Cost | (1,277,181) | (1,485,644) | (14.03) | ||
Administration Expenses | (6,431,148) | (5,724,225) | 12.35 | ||
Results from Operating activitie | 3,969,765 | 4,238,763 | (6.35) | ||
Finance Cost | (140,067) | (472,224) | (70.34) | ||
Finance Income | 1,635,264 | 1,116,447 | 46.47 | ||
Net Finance (Cost/Income) | 1,495,197 | 644,223 | 132.09 | ||
Profit/(Loss) before Income Taxation | 5,464,962 | 4,882,986 | 11.92 | ||
Income Tax Expenses | (1,358,023) | (833,143) | 63.00 | ||
Profit /(Loss) After Income Taxation | 4,106,939 | 4,049,843 | 1.41 | ||
Other Comprehensive Incom | |||||
Net charge in fair value of Available-for-Sale Financial | 137,051 | 6,875 | |||
Assets | |||||
Impairment Loss/Reversal of impairment Loss on Available- | 0 | 0 | |||
for-Sale Financial Assets recognised through Profit and Loss | |||||
Deficit/(Surplus) Change on Employee Retirement Benefit | (63,889) | 97,304 | |||
Obligation | |||||
Other Comprehensive Income /(Expense) for the perio | 73,162 | 104,179 | (29.77) | ||
Total Comprehensive Income /(Expense) for the period | 4,180,101 | 4,154,022 | 0.63 | ||
Earnings Per Share | 4.93 | 4.86 | |||
Segmental Analysis | |||||
Sale of Cash Handling Solutions | 1,159,415 | 4,727,589 | |||
Maintenance and Service | 9,460,037 | 8,647,824 | |||
CPS Cash Processing | 819,569 | 0 | |||
Sale And Service Of Computer | 1,859,887 | 4,067,638 | |||
13,298,908 | 17,443,051 | ||||
NOTES TO THE ACCOUNTS
- The figures are provisional and subject to audit.
- The condensed interim financial statements have been prepared in accordance with Sri Lanka Accounting Standards-LKAS 34 Interim Financial Reporting, and has applied the same accounting policies and methods of computation which have been adopted in the previous year.
- Comparative figures have been re-classified to conform with the current year's presentation.
- There are no other material events, which have occurred subsequent to the period where adjustments are necessary.
- There are no changes in contingent liabilities of material nature since the last annual balance sheet date.
Stated Capital
Stated Capital is represented by number of shares in issue as given below.
As at | 30th June 2022 | 30th June 2021 |
Ordinary shares | 833,560 | 833,560 |
Market price per share | ||
For the quarter ended 30th June | 2022 | 2021 |
Rs. | Rs. | |
Highest price | No Trading | No Trading |
Lowest price | No Trading | No Trading |
Closing price as at 30th June | No Trading | No Trading |
L.I.Ratnasabapathy | ||
Director | ||
A.M.De Alwis | ||
Director | ||
Date 22nd August, 2022 |
OFFICE EQUIPMENT PLC
Statement of Profit or Loss and Other Comprehensive Income
Company | Three | Three | ||
Months Ended | Months Ended | Variance | ||
30th June 2022 | 30th June 2021 | |||
Rs. | Rs. | % | ||
Revenue | 11,439,020 | 13,375,414 | (14.48) | |
Cost of Sales | (747,018) | (3,413,973) | (78.12) | |
Gross Profit | 10,692,002 | 9,961,441 | 7.33 | |
Other Income | 89,050 | 84,472 | 5.42 | |
Distribution Cost | (1,244,011) | (1,413,556) | (11.99) | |
Administration Expenses | (5,848,894) | (5,334,856) | 9.64 | |
Results from Operating activitie | 3,688,147 | 3,297,501 | 11.85 | |
Finance Cost | (140,067) | (457,132) | (69.36) | |
Finance Income | 1,632,546 | 1,116,447 | 46.23 | |
Net Finance (Cost/Income) | 1,492,479 | 659,315 | 126.37 | |
Profit/(Loss) before Income Taxation | 5,180,626 | 3,956,816 | 30.93 | |
Income Tax Expenses | (1,299,281) | (659,499) | 97.01 | |
Profit/(Loss) After Income Taxation | 3,881,345 | 3,297,317 | 17.71 | |
Other Comprehensive Incom | ||||
Net charge in fair value of Available-for-Sale Financial | 137,051 | 6,875 | 1,893.47 | |
Assets | ||||
Impairment Loss/Reversal of impairment Loss on Available- | ||||
for-Sale Financial Assets recognised through Profit and Loss | ||||
Deficit/(Surplus) Change on Employee Retirement | (125,239) | 82,605 | ||
Other Comprehensive Income /(Expense) for the perio | 11,812 | 89,480 | (86.80) | |
Total Comprehensive Income /(Expense) for the period | 3,893,157 | 3,386,797 | 14.95 | |
Earnings Per Share | 4.66 | 3.96 |
The above figures are Provisional and unaudited
L.I.Ratnasabapathy
Director
A.M.De Alwis
Director
Date 22nd August, 2022
OFFICE EQUIPMENT PLC
Statement of Financial Position
Group | Company | |||||
As at | 30th June 2022 | 30th June 2021 | 31st March 2022 | 30th June 2022 | 30th June 2021 | 31st March 2022 |
ASSETS | Rs. | Rs. | Rs. | Rs. | Rs. | Rs. |
Non-Current Assets | ||||||
Property,Plant and Equipment | 2,168,871 | 2,370,020 | 2,491,159 | 2,168,871 | 2,461,920 | 2,491,159 |
Non Current Financial Assets | 1,745,232 | 1,446,410 | 1,970,962 | 1,826,232 | 1,527,410 | 2,051,962 |
Deferred Tax Assets | 7,079,739 | 1,433,362 | 7,079,739 | 6,226,856 | 6,226,856 | 6,226,856 |
Total Non Current Asset | 10,993,842 | 5,249,792 | 11,541,860 | 10,221,959 | 10,216,186 | 10,769,977 |
Current Assets | ||||||
Inventories | 4,870,272 | 19,579,808 | 4,970,889 | 4,870,272 | 9,834,087 | 4,970,889 |
Trade and Other Receivables | 18,780,210 | 21,007,711 | 27,754,664 | 17,033,995 | 17,081,132 | 25,556,110 |
Related Company Balances | 29,771,550 | 15,962,455 | 17,898,744 | 26,975,897 | 14,856,985 | 15,076,817 |
Income Tax Refund | 0 | 0 | 0 | 0 | 739,995 | 0 |
Other Financial Assets | 23,959,011 | 23,958,154 | 23,959,011 | 23,959,011 | 23,774,855 | 23,959,011 |
Cash and Cash Equivalents | 2,989,965 | 615,758 | 4,604,293 | 1,260,945 | 258,549 | 3,107,163 |
Total Current Assets | 80,371,008 | 81,123,886 | 79,187,601 | 74,100,120 | 66,545,603 | 72,669,990 |
TOTAL ASSETS | 91,364,850 | 86,373,678 | 90,729,461 | 84,322,079 | 76,761,789 | 83,439,967 |
EQUITY AND LIABILITIES | ||||||
Capital and Reserves | ||||||
Stated Capital (833,560) | 833,560 | 833,560 | 833,560 | 833,560 | 833,560 | 833,560 |
Reserves | 0 | 0 | 0 | 0 | 0 | 0 |
Other Components of Equity | 1,859,848 | 1,198,246 | 1,722,797 | 1,859,848 | 1,198,245 | 1,722,797 |
Retained Earnings | 52,378,271 | 43,876,379 | 48,193,224 | 46,932,867 | 37,198,962 | 43,176,761 |
Total Equity Attributable to Own | 55,071,679 | 45,908,185 | 50,749,581 | 49,626,275 | 39,230,767 | 45,733,118 |
Non Current Liabilitie | ||||||
Long Term Lease Liabilities | 1,299,280 | 3,332,763 | 1,299,280 | 1,299,280 | 472,006 | 1,299,280 |
Retirement Benefit Obligation | 3,639,370 | 3,245,790 | 3,407,600 | 2,951,534 | 2,347,269 | 2,696,836 |
Total Non Current Liabilitie | 4,938,650 | 6,578,553 | 4,706,880 | 4,250,814 | 2,819,275 | 3,996,116 |
Current Liabilitie | ||||||
Trade and Other Payables | 16,136,125 | 24,201,529 | 29,054,570 | 15,889,796 | 24,394,848 | 28,062,467 |
Obligation Under Finance Lease | 1,428,327 | 1,336,592 | 1,904,436 | 1,428,327 | 4,169,999 | 1,904,436 |
Related Company Balances | 0 | 0 | 0 | 0 | 0 | 0 |
Bank Overdraft | 9,651,844 | 7,971,327 | 0 | 9,651,844 | 5,920,764 | 0 |
Income Tax Liabilities | 3,912,089 | 151,356 | 4,087,858 | 3,248,887 | 0 | 3,517,694 |
Other Loans | 205,000 | 205,000 | 205,000 | 205,000 | 205,000 | 205,000 |
Provision for Warranty Obligations | 21,136 | 21,136 | 21,136 | 21,136 | 21,136 | 21,136 |
Total Current liabilitie | 31,354,521 | 33,886,940 | 35,273,000 | 30,444,990 | 34,711,747 | 33,710,733 |
TOTAL EQUITY AND LIABILI | 91,364,850 | 86,373,678 | 90,729,461 | 84,322,079 | 76,761,789 | 83,439,967 |
Net Asset Value Per Share | 66.07 | 55.07 | 60.88 | 59.54 | 47.06 | 54.86 |
- | - | - | - | - | - |
L.I.Ratnasabapathy
Director
A.M.De Alwis
Director
Date 22nd August, 2022
OFFICE EQUIPMENT PLC
Statement of Changes in Equity
For Three Months Ended 30th June 2022 | ||||
Group | Stated | Retained | Available for | Total |
Capital | Earnings | Sale Reserve | ||
Rs. | Rs. | Rs. | Rs. | |
Balance as at 01/04/2021 | 833,560 | 39,729,232 | 1,191,371 | 41,754,163 |
Profit/(Loss) for the period | 0 | 4,049,843 | 0 | 4,049,843 |
Gain or Bargaining Acquisition of Subsidiary | 0 | 0 | 0 | 0 |
Dividend | 0 | 0 | 0 | 0 |
Other Comprehensive Income /(Expense) for the Year | 0 | 97,304 | 6,875 | 104,179 |
Total Other Comprehensive Income /(Expense) for the Year | 0 | 4,147,147 | 6,875 | 4,154,022 |
Balance as at 30/06/2021 | 833,560 | 43,876,379 | 1,198,246 | 45,908,185 |
Balance as at 01/04/2022 | 833,560 | 48,193,224 | 1,722,797 | 50,749,581 |
Profit/(Loss) for the period | 0 | 4,106,939 | 0 | 4,106,939 |
Dividend | 0 | 0 | 0 | 0 |
Gain or Bargaining Acquisition of Subsidiary | 0 | 141,997 | 0 | 141,997 |
Other Comprehensive Income /(Expense) for the Year | 0 | (63,889) | 137,051 | 73,162 |
Total Other Comprehensive Income /(Expense) for the Year | 0 | 4,185,047 | 137,051 | 4,322,098 |
Balance as at 30/06/2022 | 833,560 | 52,378,271 | 1,859,848 | 55,071,679 |
Company | Stated | Retained | Available for | Total |
Capital | Earnings | Sale Reserve | ||
Rs. | Rs. | Rs. | Rs. | |
Balance as at 01/04/2021 | 833,560 | 33,819,040 | 1,191,370 | 35,843,970 |
Profit/(Loss) for the period | 0 | 3,297,317 | 0 | 3,297,317 |
Dividend | 0 | 0 | ||
Other Comprehensive Income /(Expense) for the Year | 0 | 82,605 | 6,875 | 89,480 |
Total Other Comprehensive Income /(Expense) for the Year | 0 | 3,379,922 | 6,875 | 3,386,797 |
Balance as at 30/06/2021 | 833,560 | 37,198,962 | 1,198,245 | 39,230,767 |
Balance as at 01/04/2022 | 833,560 | 43,176,761 | 1,722,797 | 45,733,118 |
Profit/(Loss) for the period | 0 | 3,881,345 | 0 | 3,881,345 |
Dividend | 0 | 0 | ||
Other Comprehensive Income /(Expense) for the Year | 0 | (125,239) | 137,051 | 11,812 |
Total Other Comprehensive Income /(Expense) for the Year | 0 | 3,756,106 | 137,051 | 3,893,157 |
Balance as at 30/06/2022 | 833,560 | 46,932,867 | 1,859,848 | 49,626,275 |
OFFICE EQUIPMENT PLC
Cash Flow Statements
Group | Company | |||
Three | Three | Three | Three | |
Months Ended | Months Ended | Months Ended | Months Ended | |
30th June 2022 | 30th June 2021 | 30th June 2022 | 30th June 2021 | |
Cash Flow From Operating Activitie | Rs. | Rs. | Rs. | Rs. |
Net Profit/(Loss) Before Taxation And Extraordinary Item | 5,464,962 | 4,882,986 | 5,180,626 | 3,956,816 |
Adjustment for | ||||
Depreciation | 322,287 | 169,287 | 322,287 | 169,287 |
Interest Cost | 140,066 | 472,224 | 140,066 | 457,132 |
Interest Income | 0 | 0 | 0 | 0 |
Income Tax Provision | (1,358,023) | (833,143) | (1,299,281) | (659,499) |
Provision For Gratuity | 167,880 | 173,403 | 129,459 | 146,580 |
Profit/(Loss) on Disposal | 0 | 0 | 0 | 0 |
Operating Profit/(Loss) Before Working Capital Change | 4,737,172 | 4,864,757 | 4,473,157 | 4,070,316 |
Working Capital Adjustmen | ||||
(Increase) / Decrease in Inventories | 100,617 | (5,756,550) | 100,617 | (5,756,550) |
(Increase) / Decrease in Trade and Other Receivables | 10,387,787 | 1,812,459 | 9,821,396 | 5,100,257 |
Increase /( Decrease) in Trade and Other Payables | (13,923,230) | 1,828,625 | (13,377,977) | 202,145 |
Increase /( Decrease) in Related Party | (11,952,343) | (3,992,210) | (11,899,080) | (2,816,337) |
Cash Generated From Operation | (10,649,997) | (1,242,919) | (10,881,887) | 799,831 |
Income Tax Paid | 0 | 0 | 0 | 0 |
Interest Paid | 0 | 0 | 0 | 0 |
WHT | 0 | 0 | - | 0 |
Gratuity Paid | 0 | (357,500) | 0 | (357,500) |
Net Cash Flows From Operating Activitie | (10,649,997) | (1,600,419) | (10,881,887) | 442,331 |
Cash Flow From Investing Activitie | ||||
Purchase of Property, Plant And Equipment | 0 | 0 | 0 | 0 |
Investments during the year | 0 | 0 | 0 | 0 |
Sales Proceeds of Disposal | 0 | 0 | 0 | 0 |
Acquisition of Subsidiary | 0 | 0 | 0 | 0 |
Net Cash Flow from Investing Activitie | 0 | 0 | 0 | 0 |
Cash Flow From Financing Activitie | ||||
Long Term Loans | 0 | 0 | 0 | 0 |
Dividend Paid | 0 | 0 | 0 | 0 |
Finance Lease | (476,109) | (567,844) | (476,109) | (567,844) |
Interest Cost | (140,066) | (472,224) | (140,066) | (457,132) |
Net Cash Flows From Financing Activitie | (616,175) | (1,040,068) | (616,175) | (1,024,976) |
Net Increase/(Decrease) In Cash and Cash Equivalent | (11,266,172) | (2,640,487) | (11,498,062) | (582,645) |
Cash and Cash Equivalents at the Beginning of the Yea | 4,604,293 | (4,715,082) | 3,107,163 | (5,079,570) |
Cash and Cash Equivalents at the End of the Year (Note A | (6,661,879) | (7,355,569) | (8,390,899) | (5,662,215) |
Note A - Cash and Cash Equivalent | ||||
Favourable Balances | ||||
Cash in hand and at Bank | 2,989,965 | 615,758 | 1,260,945 | 258,549 |
Unfavourable Balances | ||||
Bank Overdraft | (9,651,844) | (7,971,327) | (9,651,844) | (5,920,764) |
(6,661,879) | (7,355,569) | (8,390,899) | (5,662,215) | |
- | - | - | - |
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Office Equipment plc published this content on 23 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 August 2022 14:37:02 UTC.
